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Financial Services Unit

Money Services Business Info

Article Index

The reasons for wishing obtain the licence sought; The business aims of the applicant in respect of the business and its potential client base;

  • A detailed statement setting out its proposed initial assets and its proposed assets and expected liabilities at the end of each of the two years next succeeding the date of such grant together with an estimate of expected income;
  • Particulars of its management structure and personnel;
  • Names and addresses of the registered offices of all subsidiary companies of the applicant together with a statement as to how much of the capital of each such company contributes an asset of the applicant;
  • A chart showing the relationship to its subsidiaries and affiliates and any holding company and;
  • A brief description of each of its subsidiaries and affiliates; and
  • Details of the applicant's proposals for establishing and maintaining, in respect of the money services business, systems of control, and systems of inspections and reports, if the licence applied for is granted.
  • Companies incorporated outside the Islands In case of a company incorporated outside the Islands, in addition to the requirements (a) to (m) inclusive, the name and address of the supervisory authority or regulatory authority responsible of the supervision of each of the applicant's agents operating outside the Islands.
  • Prescribed Application Fee of XCD$2, 500.